1. Welcome

2. Why Trigger

3. Business Models: How will you make money from it

4. The Entrepreneurship Process
Discovery
Evaluation
Action
Opportunity

5. Business plan? Increasingly questioned as method of evaluation
Time-consuming, so may miss opportunity
All based on assumptions – often wrong
Not used in practice by entrepreneurs – only to get bank loans
Plans more used at exploitation stage for detailed planning of launch or later developments

6. Evaluation
Testing the opportunity before writing a plan ‘will this work and if so how? how will we make money from this?’
Any admin? Remind about deadline for bids _ 6th Dec

7. Business Idea to Business Model
The Enterprise Design
The business idea is a robust vision relating to a business opportunity – a solution which satisfies a need
The business model describes how the business captures the opportunity in order to make money

8. What’s A Business Model?
The design of the enterprise – how it works as an on-going enterprise
Working through a business model is a process of designing, trialling, and evaluating an idea for an enterprise, product or service.
Businesses need to try different models to see what works – and expect to change them over time.

9. A common problem....
What’s the pain?
How can you fix it?

10. Business Ideas to Address the Problem
The talking cure
Matchmaking
Diversion
Surgery

11. Business Models for Matchmaking
Business Idea
Business Model
Speed Dating
Events organising service, offering face to face meetings with at least 15 possible dates. Participants pay per event. Benefits are… Target market is…
Online Club
Subscription service. Opportunity to look at personal entries online without face to face. Premium service also available, allowing ‘chat’ and ‘flirt’ online.
Sole Trader
Researches and finds appropriate partners. Takes a fee for introductions, bonus for success. Benefits are… Target market is…
Each requires different resources, and attracts revenue from different activities

12. Some typical Business Models
Subscription – a small amount paid regularly in exchange for regular benefits
Utility – payment for usage only
Ad-supported – newspapers, magazines, FB
Freemium – something for free, plus pay for premium

13. Subscription
A small amount paid regularly in exchange for regular benefits – magazines, sky tv, professional associations
Merchant
Direct selling products from a shop (online or not) – John Lewis, Amazon
Utility
Payment for usage only – electricity, water
Freemium
Something for free, plus pay for premium – ft.com, freeserve
Ad-supported
Targeted access to users / readers - Newspapers, magazines, FB
Brokerage
Bringing buyers and sellers together for a fee - insurance broker
Auction
Providing a pricing method E-Bay, Sotheby’s

14. We need a tool to work with
So How Can I Evaluate?
We need a tool to work with

15. Developing a model: a circular not a linear process
Building a validated learning cycle

16. Why will or won’t this work
Why will or won’t this work? Market, Industry , Team attractiveness model
From: John Mullins ‘New Business Road test,’ Prentice Hall 3rd edition 2010
See: for free download of Chap 1 for overview
Basis of navigator.co.uk

17. Market attractiveness
Markets are buyers – not products
Industries are sellers – compete with each other
Macro- market attractiveness
No. of customers; money spent; units bought
Size and growth rate of overall market
Micro-market attractiveness
Target market segments
Benefits offered compared to competitors or alternatives

18. Industry attractiveness
Macro-level: Porters Five Forces
Threat of entry
Buyer power
Supplier power
Threat of substitutes
Competitive rivalry
Micro-level: sustainable competitive advantage
Intellectual property (patents etc)
Financial structure (income vs. investment; gross margins; cash cycle; customer acquisition and retention costs)

19. Effectiveness of the Entrepreneurial Team
Match of business opportunity to entrepreneurs’ personal aims and abilities
Experience, industry-know how and skills
Relevant connections and networks
Most professional investors heavily weight their assessment of the entrepreneurial team

20. The Building Blocks of Enterprise...
Is a template to play with
Helps you to design your enterprise
Provides a basis for evaluating your proposals
Is ‘a shared language for describing, visualising and changing business models’
(Osterwalder & Pigneur, 2010)

21. Try Out The Canvass An e-book publisher
Work out the business model for
An e-book publisher
15 minutes

22. What is the business model? Key Activities & Resources
Think About the Kindle
Key Activities & Resources
What do we need to develop and sell the product / service?
How should we organise ourselves?
What will make us different from competitors?
Networks
Who do we share resources with?
Who do we share costs with?
Who do we need internally and externally to deliver?
Fit into the Market
What are the key elements of the offering?
What are the key benefits to the customer?
How do they match their needs?
Routes to Market
How do we reach them?
Do we work with partners?
Are the customers (who pay) different from the consumers (who use)?
Customers
What different customers are there?
What are they like?
What do they need?
How do they behave?
Cost Structure
What are the costly elements of our resources and activities?
Revenue Streams
Who will pay?
What will they pay for?
(Modified from Osterwalder and Pigneur 2010)

23. Now It’s Your Turn... Take an idea from someone on the table
Now try to develop a business model which makes sense and develops value
20 minutes

24. What is the business model? Key Activities & Resources
What do we need to develop and sell the product / service?
How should we organise ourselves?
What will make us different from competitors?
Networks
Who do we share resources with?
Who do we share costs with?
Who do we need internally and externally to deliver?
Fit into the Market
What are the key elements of the offering?
What are the key benefits to the customer?
How do they match their needs?
Routes to Market
How do we reach them?
Do we work with partners?
Are the customers (who pay) different from the consumers (who use)?
Customers
What different customers are there?
What are they like?
What do they need?
How do they behave?
Cost Structure
What are the costly elements of our resources and activities?
Revenue Streams
Who will pay?
What will they pay for?
(Modified from Osterwalder and Pigneur 2010)

25. Useful links
A. Osterwalder & Y. Pigneur, ‘Business Model Generation’ Wiley, 2010
Andrew and Mary Bragg ‘Developing new Business Ideas’ FT Prentice Hall 2005

27. Evaluation
Use questions to articulate and challenge your ideas

28. Business Models

29. From start-up to success
Key Note Speaker
Jayne Chance
From start-up to success

30. Business Models

31. Welcome Back

32. What was one thing you learned this morning?
#TriggerKU

33. Business Models

34. Working with Coaches

35. How have I found today? #TriggerKU

36. What Next?

37. Thank You

38. Welcome Back

39. Morning
Briefing

40. Working on Ideas “Value Proposition?”

41. Working on Ideas “Value Proposition?”

42. Key Note Speaker
Rishi Chowdhury
Idea to Business

43. The Mayor’s Low Carbon Competition

44. Lunch Start your entry Social Conversation

45. Welcome Back

46. Communicating Your Idea

47. HUMAN FEARS... 8.
Flying

48. HUMAN FEARS... 7.
Death

49. HUMAN FEARS... 3.
Insects

50. HUMAN FEARS... 1.
Public
Speaking

51. WHY MIGHT WE…
Present?
Examples

52. PRESENTING In
Education
Case Studies

53. PRESENTING
For a
Job
Interviews

54. PRESENTING At
Work
New Ideas

55. PRESENTING
Business
Owner
For Investment

56. PRESENTING
All the Time!
Be Ready

57. PRESENTING IS…
Telling a story

58. BUT HOW……….

59. BUT HOW……….
1. WHAT

60. BUT HOW……….
2. TELL THEM

61. And finally….
3. REMIND THEM

62. THINK ……
Identified
Problem(s)

63. THINK …… Problem(s) Solution
Identified
Problem(s)
Researched
Solution

64. THINK ……
The key!!!!
Why should they care?

65. THINK …… Problem(s) Solution
Identified
Problem(s)
The key!!!!
Why should they care?
Researched
Solution

66. PRESENTING
Who Does
It Best
Examples

67. DON’T ……
1. STATISTICS
This market is worth £160b, I only want to take 1%

68. DON’T ……
2. TOO MANY WORDS
My name is Dwain Reid I have a great business idea that will solve some of the worlds biggest problems, my ideas is to start a company that will teach people how to present perfectly, after all communication is the key to life and if you learn how to communicate you will be able to get anything. Right? This presentation will explain how.

69. DON’T …… 3. WAFFLE Everything I touch turns to sold
Apprentice 2010, Stuart Baggs

70. DO …… 1. STATISTICS 3. WAFFLE
Be Factual
1. STATISTICS
36pt on slides
2. TOO MANY WORDS
Keep it simple
3. WAFFLE

71. PRESENTING...
KEY
TIPS

72. PRESENTING...
SMILE

73. PRESENTING...
PASSION

74. PRESENTING...
STORY

75. PRESENTING...
VISUAL

76. PRESENTING...
PRACTICE

77. PRESENTING...
STRONG START
AND
END

78. PRESENTING
All the Time!
Be Ready

79. Pitch Practice